Disposable personal income is defined as
A) personal income less personal taxes.
B) personal income less personal taxes plus indirect sales taxes.
C) personal income less transfer payments plus personal taxes.
D) personal income less depreciation.
A
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In professional golf, a tournament winner might win, say, $1 million, whereas second place wins only $600,000. Why might golf have a 40% reduction in prize money from first and second place?
A) To ensure that there is enough money to pay those who finish near last. B) To motivate golfers to take risks they might not otherwise take. C) To motivate golfers to not take risks they might otherwise take. D) The Professional Golfers Association is a cartel.
Suppose a monopolist's demand curve lies below its average variable cost curve. The firm will:
a. earn an economic profit. b. stay in operation in the short-run. c. shut down. d. none of these.
Are outstanding credit card balances counted as part of the money supply?
What will be an ideal response?
Disposable income equals
A) income minus saving. B) income minus both saving and taxes. C) consumption minus taxes. D) the sum of consumption and saving. E) none of the above